Venture Global Q2 revenue triples on record LNG exports

Venture Global has reported a massive surge in revenue for the second quarter of 2025, driven by a record volume of liquefied natural gas (LNG) exports as its Plaquemines project continues to ramp up production. The company’s revenue nearly tripled compared to the same period last year, leading to a similarly sharp rise in operating income, though net profit growth was more subdued due to higher financing costs.

For the three months ending June 30, the LNG firm posted revenues of $3.1 billion, a 180 per cent increase from the $1.1 billion recorded in the second quarter of 2024. This top-line growth propelled income from operations up 186 per cent to $1 billion.

Net income saw a more modest rise of 21 per cent, growing to $368 million from $303 million in the prior-year period. The company attributed the slower net profit growth to non-cash unfavourable changes in interest rate swaps and higher interest expenses.

The operational performance was underpinned by the export of 89 LNG cargoes during the quarter, a new company record and a 157 per cent increase year-on-year. This progress comes as the company advances its major growth projects, having announced the final investment decision for the first phase of its CP2 project in July, supported by a $15.1 billion financing package.

Chief Executive Officer Mike Sabel commented on the progress, stating, “In July, we moved forward with a final investment decision for CP2 Phase 1 without the issuance of incremental equity, signed multiple 20-year sales and purchase agreements with high credit quality counterparties, and continued safely ramping up Plaquemines production.”

Looking ahead, the company expects its total cargo exports for 2025 to be at the high end of its previous guidance. It also confirmed that construction of the CP2 project is advancing, with first LNG production anticipated in 2027.